Ondas Holdings' Airobotics Accelerates Development Of Its Defensive Counter-UAS System, The Iron Drone Raider, To Meet Israel Defense Forces Requirements
Portfolio Pulse from Benzinga Newsdesk
Ondas Holdings Inc. (NASDAQ:ONDS) subsidiary Airobotics is fast-tracking the development of the Iron Drone Raider, a counter-UAS system, to meet the needs of the Israeli Defense and homeland security forces. The system, which uses AI to autonomously detect and neutralize small hostile drones, is being enhanced with the support of major Israeli defense contractors. The counter-UAS market is expected to grow significantly, from $1 billion in 2023 to $4.7 billion by 2030. Airobotics recently acquired Iron Drone and received a grant from the Israel Innovation Authority to further develop the system.
November 13, 2023 | 1:59 pm
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Ondas Holdings Inc. is enhancing its Airobotics subsidiary's Iron Drone Raider to meet Israeli defense requirements. The counter-UAS market is poised for growth, which could positively impact Ondas' future revenues and market position.
The news of Airobotics accelerating the development of the Iron Drone Raider to meet defense requirements indicates a strong product-market fit and potential for increased sales. The growth forecast for the counter-UAS market suggests a significant opportunity for Ondas. The recent acquisition of Iron Drone and the grant from the Israel Innovation Authority further support the potential for positive short-term impact on Ondas' stock.
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